India is in a bright spot, while emerging markets elsewhere are struggling a bit, is the word coming in from Peter Hooper, managing director and chief economist, Deutsche Bank Securities. Other BRIC nations too are having a rough go, he says.
Globally, the European Central Bank (ECB) liquidity has resuted in investors taking a slightly more optimistic view.
Below is the transcript of Peter Hooper's interview with Latha Venkatesh & Sonia Shenoy on CNBC-TV18.
Latha: There seems to be some excuse or the other for the market to rise. This is the European Central Bank (ECB) liquidity talking?
A: I think certainly ECB liquidity attracts there. It is a bit of a shift towards slightly more optimistic view in developments in Greece today with the President coming up with some slightly more optimistic statements but overall since a period of considerable volatility given what is happening in Europe on the negative side and in the US on the more positive side.
Latha: The emerging markets have also started receiving funds from the latest fund tally. What is your take on emerging markets in general and India in particular? We have had over USD 2 billion in equities and about USD 3 billion in debt coming in only in the month of January. Good to go for more?
A: India is at bright spot, certainly emerging markets elsewhere still struggling and the BRIC are having a bit of a rough go for a variety of reasons but much focus on – is the strength in the US economy going to be something that begins to benefit the rest of the world or its tightening going to be problematic.
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